Getting Out of Debt with DR, Oct 2009 - Page 7 - Mothering Forums

Forum Jump: 
Reply
 
Thread Tools
#181 of 219 Old 10-26-2009, 07:09 PM
 
justamama's Avatar
 
Join Date: Sep 2008
Location: Omaha, NE
Posts: 1,044
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Sarah8Jane View Post
How much of the $40k do the car loans, cc, and medical bills represent? How much will the bankrupcy move?

Is there any way to get the income up? PT work, in home child care, second job? Paper route, pizza delivery?

I personally would just keep working the plan with the mortgage company, and not confuse them with extra payments.

If you want to post your budget, we can give you suggestions for cutting unnecessary expenses and to get the snowball rolling.
The bankruptcy would cut out all but $13,851 ($2,185 to family and $1,577 to taxes. The rest to student loans.).

There isn't any way to get the income up. If I take on more hours it requires us utilizing a paid daycare, which would negate any money I make from the extra hours. DH already works 50 hrs/wk. If he worked more than that, it would mean we never see him, which I personally am not willing to do to our kids. They need to see their parents. I guess I could try posting on CL again for a daycare child since I work two days a week right now...in fact, I do plan on doing that as soon as I can.

We're really bad at a paper budget right now, so we're taking this next couple of weeks to keep track of what we spend so we CAN figure out what we can cut out. Once we have an account of our spending, I'll definitely share.

Deni. I'm the liberal, Jesus-loving, hippie freak your mama warned you about. Expecting a cinco surprise, spring 2014!
justamama is offline  
Sponsored Links
Advertisement
 
#182 of 219 Old 10-27-2009, 04:37 AM
Banned
 
Join Date: Mar 2006
Location: the Circle K
Posts: 5,766
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
justamama - You can do it!

I have a couple of apartment updates. We got the apartment we wanted and we can use deposit insurance so I can put the $$ I was saving for the deposit toward our debt.

I will also have to buy all new furniture and a few toys for DD so the whole savings won't go toward debt but a large chunk can. w00t!
lalaland42 is offline  
#183 of 219 Old 10-27-2009, 11:27 AM
 
RoadWorkAhead's Avatar
 
Join Date: Sep 2005
Location: Florida
Posts: 1,995
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
justamama- Unless I'm missing something big, it seems like you'd have somewhere in the range of 600$ give or take for debt repayment. Bankruptcy doesn't change habits, and hard lessons are longer lasting than easy fixes. We had a similar mortgage (to your normal one) and we had significantly less income, it can be done!
RoadWorkAhead is offline  
#184 of 219 Old 10-27-2009, 12:17 PM
 
Softmama's Avatar
 
Join Date: Jun 2003
Posts: 1,008
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by lalaland42 View Post

I have a couple of apartment updates. We got the apartment we wanted and we can use deposit insurance so I can put the $$ I was saving for the deposit toward our debt.
phew! glad you can use deposit insurance and free up some of that money. that was quite a chuck they were going to need. that's great news
Softmama is offline  
#185 of 219 Old 10-27-2009, 05:57 PM
 
Rev1053's Avatar
 
Join Date: Oct 2007
Location: Western Wisconsin
Posts: 692
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
justamama
It sounds like you have a budgeting problem. You should have $1,959 left every month for gas/groceries/bills/spending/daycare/household. Even with your mortgage paying extra to get caught up your at 31% of your take home income on your mortgage. I think you can do it, you just need to cut your spending.
It sounds like you are on pre-baby step 1. Get current with your bills.
Its hard. Budgeting is hard. Limiting your self is hard.
But you can do it!
It can be done.
If you post a budget of your household expenses we can try to help what area's you may be able to cut.
Good luck.

Mom to '97, '07, '09 and birth mom '00 and wife to my BFF
Rev1053 is offline  
#186 of 219 Old 10-27-2009, 06:15 PM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,217
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Rev1053 View Post
Now November is going to be hard. My father is coming to visit for 6 weeks. He is going to be a huge burden on us financially, and I am really worried on how to keep him reigned in financially. He works as a missionary in Thailand and lives off of nothing, he used all his money on tickets for him and his wife. He is literally coming to stay with $10 in his bank account. My sister and I agreed to sort of split the expense of him coming but it still should be significant. But we are happy to see him just the same! Just crossing my fingers that the damage is not too bad.
Have a great visit!!
p1gg1e is offline  
#187 of 219 Old 10-27-2009, 06:20 PM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,217
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by justamama View Post
Okay. Our situation is weird, so I'm not sure how to go about the baby steps.

We currently have 2 paid for vehicles. A 17 year old tempo that DH drives back and forth to work and my van. A 2001 in great condition (some cosmetic stuff, but runs perfectly) with 68k miles and a warranty until 155k miles. Seeing as we're expecting our third kid and we frequently have my younger sister or a friend's child with us, selling the van isn't an option.

We'll bring home around $2850 a month. We are $3k behind on our mortgage, so our normally $688 payment (incl. tax/ins) is now $891 until the $3k is paid off. All other bills are current, or can easily be brought current.

The problem is our debt. We have around $40k in debt. 3 vehicle loans (2 cars and a motorcycle- we gave them to the bank last year because we couldn't afford the payments anymore), credit cards, school tuition (not student loans), student loans, and some medical bills. All of it is currently in collections or on its way there. The credit cards haven't been touched in over a year. We never, ever plan on touching a credit card or a loan (except a 15yr mortgage) again. We currently are paying nothing on our debt. :x

Last year when we realized how far in over our heads we were, we decided to file bankruptcy. We have paid $750 towards our lawyer so far, and owe around $400 more before he files anything. If we decide not to file, we lose the $750. DH wants to file bankruptcy on the cc and the cars, and medical bills over $2k. Everything else we would put into our debt snowball, along with money owed to family members.

We also have no savings. No baby EF, no regular EF, not even $5 in the glovebox in case we run out of gas.

WWYD? And does the $3k on the mortgage come before baby step #1 or after, since we have the payment plan worked out?
Honestly at this point Id pay nothing on the debt till you get your heads above water and BR isnt in the cards either right now you can't afford it. A better idea of your budget would help. You house payment should be the one of the first things you pay. Food , house , lights , transportation.

Id not file BR you can often settle those debts ( for allot less) once you get your budget working and save money up. So say you owe $4000 on a car you defualted on you can get a settlement in writing for say $3000. You though have to know how to talk to them and how to handle the settlement.

Have you read Dave Ramseys book? IMO you might want to look into the class also it will really help you guys come up with a plan.
p1gg1e is offline  
#188 of 219 Old 10-28-2009, 10:26 AM
 
RoadWorkAhead's Avatar
 
Join Date: Sep 2005
Location: Florida
Posts: 1,995
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Send any spare good thoughts this way. Dh went into his union yesterday and his BA told him that a different hall should have a decent amount of work coming down the pipes. We'd have to pull the kids from school so we could go with, but that was the original plan. If it doesn't come through, DH has a concrete plan for finishing the rest of his skills tests (He's a welder, so there are multiple processes and materials to learn on). I feel a bit better. Now if I can figure out a decent budget that still lets us pay off the last of the CC before income tax return time
RoadWorkAhead is offline  
#189 of 219 Old 10-28-2009, 05:29 PM
 
CookiePie's Avatar
 
Join Date: Jan 2009
Posts: 911
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I just finished paying off our highest interest CC today!!! We still have $11,000 between 2 different cards but I'm very excited. Since I did our excel budget for Sept & Oct I've drastically reduced our grocery bill by more than half & my out look is much more positive, I feel powerful seeing "where it all goes" and having more control over it by tracking it & having motivation to stretch it further. I don't know how we have managed to get by all this time without a budget! It is such an eye opener! I didn't even really know how much we made each month. I have started using coupons, playing the CVS game & cooking cheaper meals like soups, beans & eggs more often. We temporarily stopped retirement contributions when DH's company "temporarily" stopped matching due to tough economic times. His company reduced everyone's pay by 10% & insurance premiums & co-payments went up. In addition to an EF we are starting a Christmas fund for next year as well as a travel fund because we have to travel in November for a wedding. We don't want to end up in a situation where we are wanting to charge next year. So this is the first month that we have saved! Which goes against everything I've told myself for years. "We can't save until we are paid off". But it backfires because expenses come up & we aren't prepared for them, boom more CC debt. Last year we used our whole tax return towards paying down CC bills. Not considering upcoming expenses. But now I see that I can continue to pay these bills off diligently & at the same time put a little aside for upcoming expenses so that we don't have to use the cards as back up. So far we have started saving for EF. We had car repairs on both cars that was over $600 unexpected in 2 months but we still came out ahead paid more debt & even saved some!

We have a FHA loan on our house & I misunderstood it until today when I called to clarify. I thought that we paid PMI on the loan & at 5 years (in 8 months) we would not have to pay any longer, but I found out that I'm wrong... With an FHA loan we pay FHA not PMI & after 5 years you can get rid of it only if you have 78% left on the loan, which we will not.

I think that we are at BS2.2 I'm not super familiar with DR only what I've read here over the last few months, so I'm matching up what we've done with the list on the first post, am I right? Or do you have to save up $1000 before moving on to BS2?

Giving Love serves as a wonderful reminder that we already have an abundance of Love within, "it is in giving that we receive."
CookiePie is offline  
#190 of 219 Old 10-28-2009, 10:30 PM
 
annethcz's Avatar
 
Join Date: Mar 2004
Location: on the beautiful prairie of MN
Posts: 9,825
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by CookiePie View Post
I just finished paying off our highest interest CC today!!!
Woo hoo!!!
Quote:
I think that we are at BS2.2 I'm not super familiar with DR only what I've read here over the last few months, so I'm matching up what we've done with the list on the first post, am I right? Or do you have to save up $1000 before moving on to BS2?
Save up the $1000 baby emergency fund (BS1) before moving onto BS2, which is snowballing debt.

New signature, same old me: Ann- mama of 2 boys and 2 girls, partnered to a fabulous man.
I'm an unintentional weasel feeder and I suck at proofreading.
annethcz is offline  
#191 of 219 Old 10-29-2009, 12:34 AM
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,309
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
We're on our way. I'm thinking of picking up a few extra supply jobs so that we can get this car paid off this month as opposed to next- just for poops and giggles.

It is so great having a PLAN. $400 would easily just have drifted off throughout the month this time last year. Now it's all accounted for and being put to work. It feels so good.

I also love that I don't feel that I'm "owed" anything. Before, if I got extra hours or some extra income of some sort (gift, refund, etc.) it was free game because we deserved it and would just get wasted. Dropping the martyr attitude is very liberating.

Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is online now  
#192 of 219 Old 10-29-2009, 09:14 AM
 
CookiePie's Avatar
 
Join Date: Jan 2009
Posts: 911
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by annethcz View Post
Woo hoo!!!

Save up the $1000 baby emergency fund (BS1) before moving onto BS2, which is snowballing debt.
So you would pay the minimums if necessary, until you have the $1000 EF?

Giving Love serves as a wonderful reminder that we already have an abundance of Love within, "it is in giving that we receive."
CookiePie is offline  
#193 of 219 Old 10-29-2009, 10:23 AM
 
Rev1053's Avatar
 
Join Date: Oct 2007
Location: Western Wisconsin
Posts: 692
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by CookiePie View Post
So you would pay the minimums if necessary, until you have the $1000 EF?
Yes.

You need that emergency fund in place so that you never have to use credit cards again. Once you have saved up the money then start the debt snowball. Until then use the money you have started with your snowball to put into a savings account.

Mom to '97, '07, '09 and birth mom '00 and wife to my BFF
Rev1053 is offline  
#194 of 219 Old 10-29-2009, 10:47 AM
 
Softmama's Avatar
 
Join Date: Jun 2003
Posts: 1,008
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by CookiePie View Post
So you would pay the minimums if necessary, until you have the $1000 EF?
yes. absolutely.
Softmama is offline  
#195 of 219 Old 10-29-2009, 11:17 AM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,217
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Bah - house not looking like a deal. we have a minor roof issue and DH is freaking out. Probably a good thing though I told him I want to make REAL sure it wasn't an easy fix ( it has a metal and slate roof) before bailing out of hte contract.

Its ok though at least we had a good run LOL. guess everyone has to fall off the wagon at some point right?
p1gg1e is offline  
#196 of 219 Old 10-29-2009, 11:40 AM
 
CookiePie's Avatar
 
Join Date: Jan 2009
Posts: 911
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Softmama View Post
yes. absolutely.
Quote:
Originally Posted by Rev1053 View Post
Yes.

You need that emergency fund in place so that you never have to use credit cards again. Once you have saved up the money then start the debt snowball. Until then use the money you have started with your snowball to put into a savings account.
Thank you both! I'm feeling very encouraged to tackle this once & for all!

Giving Love serves as a wonderful reminder that we already have an abundance of Love within, "it is in giving that we receive."
CookiePie is offline  
#197 of 219 Old 10-29-2009, 11:45 AM
 
annettemarie's Avatar
 
Join Date: Mar 2002
Location: In the Restricted Section
Posts: 34,451
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
Argh! I'm so annoyed. I followed Paypal's instructions for canceling subscriptions and none came up. Then today I was charged $30 for renewing a subscription! I contacted both Paypal and the business owner and asked for a cancellation and a refund, and I hope they do right by me. *grump*

Flowers, fairies, gardens, and rainbows-- Seasons of Joy: 10 weeks of crafts, handwork, painting, coloring, circle time, fairy tales, and more!
Check out the blog for family fun, homeschooling, books, simple living, and 6 fabulous children, including twin toddlers

annettemarie is offline  
#198 of 219 Old 10-29-2009, 01:07 PM
 
Rev1053's Avatar
 
Join Date: Oct 2007
Location: Western Wisconsin
Posts: 692
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
P1gg1e- I am so sorry! Is the roof so bad that the house is not worth it anymore? Or can you submit a re-offer for less what it would cost to fix the roof? The house has been on the market forever, maybe they would take less with the new information?

Annettemarie - Crossing my fingers that you get your money back!

DH gets paid tomorrow and for some reason his work didn't pay him for any of his overtime for 2 weeks! Ugh. His whole paycheck can still be put into savings but its much less then I originally expected. Though this should cause his first paycheck in November to be HUGE, since it will have 4 weeks of overtime on it. Still frustrating though.

Mom to '97, '07, '09 and birth mom '00 and wife to my BFF
Rev1053 is offline  
#199 of 219 Old 10-29-2009, 01:17 PM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,217
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Rev1053 View Post
P1gg1e- I am so sorry! Is the roof so bad that the house is not worth it anymore? Or can you submit a re-offer for less what it would cost to fix the roof? The house has been on the market forever, maybe they would take less with the new information?

Annettemarie - Crossing my fingers that you get your money back!

DH gets paid tomorrow and for some reason his work didn't pay him for any of his overtime for 2 weeks! Ugh. His whole paycheck can still be put into savings but its much less then I originally expected. Though this should cause his first paycheck in November to be HUGE, since it will have 4 weeks of overtime on it. Still frustrating though.
Ugh that would be frustrating

I'm hoping DH will agree to asking for a roof credit. It has a great roof its metal and slate they last pretty much for ever.... DH is just stressed. I told him we owe it to ourselves and everyone thats watched our kids for this LOL to take a good look at the roof and the leak and figure out the worst case cost it would take. I would like $3000 I think at closing ( we didn't ask for closing costs) for the roof and a section of the first floor outside wall that needs fixed...plus a few other minor issues...I'm trying not to be needy but I think its fair.
p1gg1e is offline  
#200 of 219 Old 10-29-2009, 03:14 PM - Thread Starter
mtm
 
mtm's Avatar
 
Join Date: Dec 2003
Posts: 1,467
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
justamama, what does dh do? Anyway to move up/make more in his current field? Your choices are make more or spend less or some combo of the two. I would strongly recommend seeing where every penny of your money goes. If you use a lot of debit, get your bank statement and track your past few months spending. If you don't have records like that, start today, every $ gets tracked til you see if there are any problems areas. It looks like you should have money left over to help you catch up to the mortgage, pay some debts so you need to find out why you don't. Are you getting wic or any other help? if not, do apply. Four walls is your priority, house, food, utilities etc. Everything else waits.

lalaland42, great news on the apt!

RoadWorkAhead, thinking of your dh, I hope something comes through at the other hall.

CookiePie, great job You are doing great!

p1gg1e, do a price holdback for the amount of a new roof.

annettemarie, I got refunded recently through the company (shutterfly) so I'm hoping yours comes through too.

Rev1053, whole check into savings? That's great! Sorry its less but just imagine what Novs will look like!

Almost done with Oct, time to start tweaking Novembers budget!
mtm is offline  
#201 of 219 Old 10-29-2009, 03:20 PM
 
annettemarie's Avatar
 
Join Date: Mar 2002
Location: In the Restricted Section
Posts: 34,451
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
I haven't heard back from her yet. It's a WAHM and she really doesn't HAVE to refund me. I'm just hoping she'll be decent.

Flowers, fairies, gardens, and rainbows-- Seasons of Joy: 10 weeks of crafts, handwork, painting, coloring, circle time, fairy tales, and more!
Check out the blog for family fun, homeschooling, books, simple living, and 6 fabulous children, including twin toddlers

annettemarie is offline  
#202 of 219 Old 10-29-2009, 04:29 PM
LZP
 
LZP's Avatar
 
Join Date: May 2009
Location: PA
Posts: 1,706
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Hi Ladies,
I'd like to join "officially" starting in the November Thread, but thought I'd post here and ask a few questions to get acquainted before we dive in in November!

First, if we have a decent savings, can we count that as just having BS3 on its way, even though we still have some debt? Or should we keep only $1K and spend the rest on debt reduction?
I never felt so sick as when i totalled up what i thought was just a "small" debt and realized how much it really was. (when you include the car loans- sickening!)

Also, we are in a bit of a dilemma here.... our financial situation (now) is very stable. we both have good jobs with stable companies. my DH works in software, and he always has that "fear" so he likes to have a nice cushion in savings, regardless of our debt. it keeps him comfortable, and that makes money talks/decisions easier for us, if we have the "cushion."

But, I really really want to pay off our debt. we have stupid debt ("wow! 0% financing for this bed?! We'll do it!") now we have a monthly payment on an effing bed. it's a debt we could wipe out immediately, but means dipping into savings. (read: make DH uncomfortable.) it's $100/month

also, i am on a lease right now with my car. it's a cheap payment. $258/month. it ends in December, and the car isnt a great car- so I'd rather not buy out the lease. BUT, the buyout is less than the cost to buy a car of the same make/model/mileage. so technically, it's a "good deal." we are trying to have children.. to no avail as of yet... and ideally, i'd rather have something bigger/safer for a child. do we get something different now, (pre-owned) with a similar payment but finance instead of lease, or buy out the lease on current car, and hope that we can get decent trade in if we need (want) a new car if we're blessed with a child? my current car is OK, but i really dont feel that safe in it, and it's already making rattling noises at only 2.8 years old! there are some emotional issues here, too, like that i've given up so much for 2 years basically, in preparation to TTC, and feel like i "deserve" to treat myself to a car with heated seats. yes, trivial and spoiled, but i had to put it out there.

we also have student loans. each of us has consolidated (separately) about $15K of student loans, which might be down to about $12K each now? they are at 2.4% interest. there is another private loan that has a $160/month payment with a variable rate that infuriates me.. it's the first on the chopping block at about $7K I think.

BUT, if we paid the bed and the SL, it would eat most of our savings.

we dont go on vacations. we go out to eat maybe 3x per month at MOST, and in November, we're doing the home-cooked challenge- no going out to eat at all. Possibly, we'll do in December too, but that gets hard with holiday parties and get-togethers out the wahzoo.

we have phone/FiOS/internet combo, but the contract is up in Feb, and we'll eliminate the phone to save $60/month. yes, $60 for phone. insane. we're getting some VOIP thats a one time fee instead. we're going to haggle with the cable/internet company to get our price down since it's so much... right now we pay $200/month for phone/cable/internet. we have to keep the TV, it's DHs only "treat" he doesnt go out to bars, shop, spend on anything really... except trips to Wawa on the sneak for snacks.

we also have PMI on our mortgage, which we're finishing some last improvements to hopefully re-appraise and eliminate the PMI-it's 154/mo.


OK, so that's my long intro that doesnt even include everything!
my questions:

the car for me- what to do? "invest" in a good, reliable car now, (thinking of spending like $18K or so) or just buy out the lease and see what happens? buy out would be $12K that we would have to finance but could probably pay off in 2 years.

the debt- keep it and hold onto our nice emergency fund now (about $12K) or use the cushion to pay the debt, and then start on emergency again?

some of it seems counterintuitive to me- paying the bank before paying ourselves....

thoughts? suggestions?

sorry i'm so wordy!

The babymoon isn't over! Our long awaited A born 7/18/10, making us laugh and smile every day.
LZP is offline  
#203 of 219 Old 10-29-2009, 06:08 PM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,217
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by mtm View Post

p1gg1e, do a price holdback for the amount of a new roof.
You mean cash at closing for a new roof or adjust the sale price for a new roof?

The whole roof is fine a couple spaces that need painted ( metal.) . I'm thinking where the roof meets the chimney is where the leak is and that might be fixed by just sealing it...there are other things though that need to be fixed. I'm going to ask I think for $5000 cash back to fix the projects ( oh the list I have , a rotten window , some plaster in the upstairs from the leak ( the leak to me looks new)etc etc) . If they don't agree then oh well we won't buy the house. No biggy.

I'll kinda be happy though one way or the other when this is over.
p1gg1e is offline  
#204 of 219 Old 10-30-2009, 09:42 AM
Banned
 
Join Date: Mar 2006
Location: the Circle K
Posts: 5,766
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
LZP - One thing to consider on the bed is the company that lends you money frequently lends at 0% and if you don't pay it back by the end of the interest free period, they apply retroactive interest back to the beginning of the loan. I'd probably pay that off (at least) right now.
lalaland42 is offline  
#205 of 219 Old 10-30-2009, 10:39 AM
 
CookiePie's Avatar
 
Join Date: Jan 2009
Posts: 911
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I started tying up the ends of our October excel sheet to carry over the remaining balance to November, & begin paying the mortgage & other early in the month bills. Something is off on my spreadsheet & I can't seem to find the problem. It finds me over $600 in the red! While both my checking account register & my online banking statement jive & show that I have over $2000 to start November. Very frustrating! I'm thinking that one of the cells equations must be wrong. Any ideas where to begin to find the error?

Both my girls have the flu, anyone else?

Giving Love serves as a wonderful reminder that we already have an abundance of Love within, "it is in giving that we receive."
CookiePie is offline  
#206 of 219 Old 10-30-2009, 10:52 AM
LZP
 
LZP's Avatar
 
Join Date: May 2009
Location: PA
Posts: 1,706
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
lalaland- thanks for the tip- we were informed about the 0% time being finite, ... but 0%- even when we have that funds to pay in full.. well, it's free money! so tempting. and we took it. anywho, we're paying that off before Thanksgiving. DH has agreed to use savings.

We are planning to sit down sometime next week and make a whole financial plan for 2010. it will probably be a modified version of DR, but with the ultimate goal being debt-freedom.

also- we are planning to re-appraise and get a refi to a 15 year mortgage- bc we could get such a reduction in interest rates, that our pmt would be about the same- I know in the beginning, we'd be back to paying all interest, but we're only 3 years in anyway... so, it's basically all interest now too. thoughts?

CookiePie- I think you might just have to look at each one that feeds the "total" field to see if any look off. a $600 error shouldnt be too difficult to spot. Are there any bills that are $600, that might have been counted twice?

The babymoon isn't over! Our long awaited A born 7/18/10, making us laugh and smile every day.
LZP is offline  
#207 of 219 Old 10-30-2009, 11:00 AM
 
Rev1053's Avatar
 
Join Date: Oct 2007
Location: Western Wisconsin
Posts: 692
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by LZP View Post
also, i am on a lease right now with my car. it's a cheap payment. $258/month. <....snip.....> there are some emotional issues here, too, like that i've given up so much for 2 years basically, in preparation to TTC, and feel like i "deserve" to treat myself to a car with heated seats. yes, trivial and spoiled, but i had to put it out there.
I agree with lalaland42 and pay off the bed first.

Car for you... I would take remaining in the savings and buy a car for you (leave $1K in savings). Dont get another car payment. Take the money you were paying to the flease and put it towards the $7K loan. So basically start the debt snowball. If you cant get your dream car, start a sinking fund to continue to save more money so that in a year you could sell the car you buy to get a better car. I wouldnt do another car payment, it just doesnt make sense financially.

DH didn't like emptying our savings account either. It made him EXTREMELY nervous. But it made him that much more motivated to pay off our debt. We paid off all of our debt in 7 months. DH worked overtime and cut all sorts of things so that we could get to BS3 that much more quickly.

Consolidate the private student loan? At least get them to settle on an interest rate. That would infuriate me as well! I would pay off the SL last, since the interest rate is so low.

Have you already taken a DR class? Or have you read the book? I would make a date with your DH to talk finances every week for a couple of months. Set a time limit. Read the book together and discuss what you like and dont like. Work together.

Mom to '97, '07, '09 and birth mom '00 and wife to my BFF
Rev1053 is offline  
#208 of 219 Old 10-30-2009, 11:11 AM
LZP
 
LZP's Avatar
 
Join Date: May 2009
Location: PA
Posts: 1,706
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
I would make a date with your DH to talk finances every week for a couple of months. Set a time limit. Read the book together and discuss what you like and dont like. Work together.
this is a great idea- rather than having it be something we have to remember to discuss, we can have a standing date.

i already said I wanted to start tracking every penny that left our house (since it seems that we make so much, yet still I had to "ask" if I could go to the grocery store on Monday... and the answer was, well, if you dont spend more than $x. ridiculous!) and DH said, "So, I'm going to hve to go through every receipt and itemize it?!" and I suggested we do it together. but it still didnt go over well


any recommendations for *free* software or programs that we could use to track our spending? I'm talking the minutae of our spending, something that could give more detail than "household" etc...?

should I just make a list myself, to track laundry detergent, vinegar, tooth brushes, baking soda etc?

is there any program that could do that for us?

ETA: and thank you for your great advice so far! sorry that i didnt say that first thing.

The babymoon isn't over! Our long awaited A born 7/18/10, making us laugh and smile every day.
LZP is offline  
#209 of 219 Old 10-30-2009, 01:01 PM
 
Sarah8Jane's Avatar
 
Join Date: Dec 2007
Posts: 373
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
How do we report spammers? I can't remember!

me, 28 & dh, 32.
Sarah8Jane is offline  
#210 of 219 Old 10-30-2009, 01:42 PM
 
Maluhia's Avatar
 
Join Date: Jun 2007
Location: in Paradise with my Papaya!
Posts: 4,981
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
The red triangle on the left - I did it too.


Online there are places like MINT that are free for tracking.

Your User Agreement here at MDC, read it and make it your friend and read the FAQ to answer all the questions of the (MDC) world.
Maluhia is offline  
Reply

Quick Reply
Message:
Drag and Drop File Upload
Drag files here to attach!
Upload Progress: 0
Options

Register Now

In order to be able to post messages on the Mothering Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page


Forum Jump: 

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off